Biofertilizers promote the growth of the plants by supplying adequate amount of nutrients and improve the quality and yield of the crops. The three major biofertilizerss existing in the market are nitrogen fixing biofertilizers, phosphate mobilizing biofertilizers and potassium mobilizing biofertilizers. The benefits of biofertilizers include longer shelf life, less contamination, better survival on seeds and soil, high commercial revenues and export potential. Different kinds of soil micro-organisms belonging to several taxa of the bacteria, fungi, and protozoa kingdoms, colonizing the rhizosphere or the plant tissues and promoting plant growth, can be utilized for the production of biofertilizers.

Global biofertilizers market can be segmented on the basis of product and applications. The product segment of biofertilizers market includes nitrogen fixing biofertilizers, phosphate mobilizing biofertilizers and potassium mobilizing biofertilizers. In terms of application, global biofertilizer market can be categorized into cereals and grains, fruits and vegetables, oil seeds and pulses and others segment including nursery turfs and ornamental plants.Increasing population and decreasing arable land is one of the key drivers of global biofertilizerss market. Continuation in the usage of chemical fertilizers for crop growth not only reduces the soil fertility but also leads to various potential health hazards. Owing to these factors, there exists a shift in focus toward biofertilizerss in order to raise the soil fertility, crop productivity, and crop growth by meeting the rising demand for healthy and bio based products. Another key factor driving the global biofertilizer market is the increasing government support and environmental regulations for bio based products

Favorable regulatory scenario in highly developed regions such as North America and Europe are driving the market of global biofertilizerss. Consumption of biofertilizers in U.S is high compared to Canada. However, Canada has good production facilities for biofertilizers. Demand for biofertilizers is high in North America. Significant progress in the biotechnology (especially fermentation technology) and advancements in molecular biology are propelling the biofertilizers market in the region.

Common Agricultural Policy formulated by the European government promotes organic farming and the application of biofertilizers. The biofertilizer market in Europe is dominated by Germany and countries in East Europe. The growing economies in CIS countries, and demand from countries such as Russia, Serbia, and Ukraine are driving the biofertilizers market in Europe. CIS countries are expected to offer immense growth potential in the near future. Advancements in technology is a key factor driving the market in Europe. In the Asia Pacific region, China and India are the leading countries in terms of consumption of biofertilizer products. In terms of consumption of biofertilizers, China and Australia are the key countries in the Asia Pacific region.

Get accurate market forecast and analysis on the Biofertilizers market. Request a sample to stay abreast on the key trends impacting this market@

The attractive agriculture growth potential of biofertilizers drives the market in Latin America with significant contribution from Brazil and Mexico. However, the growth potential of biofertilizers in Middle East and Africa remain less attractive during the forecast period.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.